Canadian home sales experienced a year-over-year slide of 6.9% in mid-Q3, with activity dipping about 1% month-over-month as economic uncertainty and elevated mortgage costs continued to shape the market. The national price index remained flat compared to the previous month and was down by approximately 3% from last year. Interestingly, newly listed properties rebounded by about 3% after several months of declines, signaling that some sellers are adjusting to the current landscape. The sales-to-new listings ratio eased further to around 49%, moving below its long-term average of 55%—an important shift for both buyers and sellers to note.
As someone who closely monitors market trends and provides in-depth analysis to clients across Metro Vancouver and beyond, I’ve noticed how rising inflation risks and uncertainty about economic growth are impacting both sentiment and decisions. Higher bond yields have pushed fixed mortgage rates upward, and at this point, markets have priced in about a 60% chance of an early Q4 rate hike, with more tightening expected through 2027. If you’re weighing your options or seeking a better understanding of these market dynamics—whether it’s for investment, renovation, or listing advice—staying informed is key. My commitment is always to keep clients ahead of the curve and well-prepared for every phase of the real estate journey.
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